Generation Income Properties (GIPR) refinances $3,800,000 property debt

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Generation Income Properties, Inc. entered into a new Commercial Business Loan Agreement through two indirect subsidiaries for a term loan of $3,800,000 with Hancock Whitney Bank. The loan proceeds were used to refinance existing mortgage debt on two properties previously financed by Valley National Bank.

The Term Loan bears a fixed interest rate of 5.70% per year, with monthly principal and interest payments of $23,986.17 starting June 1, 2026 and a final payment due May 1, 2031, based on a twenty-five year amortization schedule. It is secured by first priority liens on properties in Sanford, Florida and Cleveland, Tennessee, and includes a required minimum annual debt service coverage ratio of 1.15 to 1.00. The loan may be prepaid without penalty and is fully guaranteed by the company and related subsidiaries.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Term loan principal: $3,800,000 Interest rate: 5.70% per annum Monthly payment: $23,986.17 +3 more

6 metrics

Term loan principal $3,800,000 Principal amount of Commercial Term Note

Interest rate 5.70% per annum Fixed rate on term loan

Monthly payment $23,986.17 Monthly principal and interest starting June 1, 2026

Loan maturity date May 1, 2031 Final principal and interest installment due

Amortization period 25 years Schedule used to calculate initial payment

Minimum DSCR covenant 1.15 to 1.00 Annual debt service coverage ratio requirement

Key Terms

Commercial Business Loan Agreement, Commercial Term Note, debt service coverage ratio, first priority mortgage, +1 more

5 terms

Commercial Business Loan Agreement financial

"entered into a Commercial Business Loan Agreement (the “Loan Agreement”) with Hancock Whitney Bank"

Commercial Term Note financial

"is evidenced by a Commercial Term Note (the “Note”), which provides for monthly installments"

debt service coverage ratio financial

"required to maintain a minimum debt service coverage ratio of not less than 1.15 to 1.00"

Debt service coverage ratio measures how many times a company's available cash flow can pay its scheduled debt payments (interest plus principal). Think of it like checking how many months of take-home pay it would take to cover your mortgage and loan bills; a higher number means a bigger cushion against missed payments. Investors use it to gauge credit risk, the likelihood of default, and whether a company can afford dividends or new borrowing.

first priority mortgage financial

"secured by (i) a first priority mortgage on the real property located at 3815 South Orlando Drive"

A first priority mortgage is a loan secured by real estate that has the top legal claim on the property if the borrower defaults, meaning it gets paid before any other debts tied to the same property. For investors, it matters because that top claim lowers the risk of losing money compared with later-ranking loans—similar to standing first in line at a payout; the higher your position, the better your chances of recovering value if the asset is sold.

continuing guaranty financial

"each pursuant to a continuing guaranty in favor of the Bank"

Understanding 8-K Material Events →

05/22/2026 - 04:30 PM

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     Date of Report (Date of earliest event reported): May 01, 2026

    

GENERATION INCOME PROPERTIES, INC.

(Exact name of Registrant as Specified in Its Charter)


Maryland	001-40771	47-4427295
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

401 East Jackson Street Suite 3300
Tampa, Florida		33602
(Address of Principal Executive Offices)		(Zip Code)

     Registrant’s Telephone Number, Including Area Code: 813 448-1234

    

     Not Applicable

    

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock par value $0.01 per share	GIPR	The Nasdaq Stock Market LLC
Warrants to purchase Common Stock	GIPRW	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On May 1, 2026, LMB Auburn Hills I, LLC, an Ohio limited liability company, and LMB Lewiston, LLC, an Ohio limited liability company (together, the “Borrowers”), each indirect subsidiaries of Generation Income Properties, Inc. (the “Company”) through Generation Income Properties, L.P. (the “Operating Partnership”), entered into a Commercial Business Loan Agreement (the “Loan Agreement”) with Hancock Whitney Bank (the “Bank”), pursuant to which the Bank made a term loan to the Borrowers in the principal amount of $3,800,000 (the “Term Loan”). The proceeds of the Term Loan were used to refinance existing mortgage indebtedness on two properties previously financed by Valley National Bank.

The Term Loan bears interest at a fixed rate of 5.70% per annum and is evidenced by a Commercial Term Note (the “Note”), which provides for monthly installments of principal and interest in the amount of $23,986.17, commencing June 1, 2026, and continuing on the same day of each month thereafter, with a final installment of all outstanding principal and accrued interest due and payable on May 1, 2031. The initial monthly payment amount is calculated based on a twenty-five year amortization of the principal amount of the Note. The Borrowers may prepay the Term Loan without penalty.

The Term Loan is secured by (i) a first priority mortgage on the real property located at 3815 South Orlando Drive, Sanford, Florida 32773, granted by LMB Auburn Hills I, LLC, together with an assignment of all rents and leases relating thereto, and (ii) a first priority deed of trust on the real property located at 5780 East Waterlevel Highway, Cleveland, Tennessee 37323, granted by LMB Lewiston, LLC, together with an assignment of all rents and leases relating thereto. In addition, the Borrowers are required to maintain a minimum debt service coverage ratio of not less than 1.15 to 1.00, measured annually at the end of each fiscal year based on the net operating income derived from the two collateral properties.

The Loan Agreement provides for customary events of default, including, among others, failure to make any payment when due, failure to observe or perform any covenant, material inaccuracy of any representation or warranty, commencement of bankruptcy proceedings, material adverse change in the financial condition of the Borrowers, and the discontinuance or termination by any guarantor of its obligations under any guaranty of the Term Loan. Upon the occurrence of an event of default, the Bank may, at its option, exercise any and all rights and remedies under the loan documents.

The Term Loan is guaranteed by the Company, GIPFL 3815 South Orlando Drive, LLC, a Delaware limited liability company, and GIPTN 5780 Waterlevel Highway East, LLC, a Delaware limited liability company, each pursuant to a continuing guaranty in favor of the Bank (the “Guaranties”), pursuant to which each guarantor unconditionally guarantees the prompt payment in full of all obligations of the Borrowers under the Loan Agreement.

The foregoing descriptions of the Loan Agreement, the Note, and the Guaranties are summaries only and are qualified in their entirety by reference to the full text of such documents, copies of which are filed as Exhibits 10.1, 10.2, 10.3, 10.4 and 10.5 to this Current Report on Form 8-K, and are incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 above is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits


10.1	Commercial Term Note, dated May 1, 2026, by LMB Auburn Hills I, LLC and LMB Lewiston, LLC in favor of Hancock Whitney Bank.
10.2	Commercial Business Loan Agreement, dated May 1, 2026, by and among Hancock Whitney Bank, LMB Auburn Hills I, LLC, LMB Lewiston, LLC, Generation Income Properties, Inc., GIPTN 5780 Waterlevel Highway East, LLC, and GIPFL 3815 South Orlando Drive, LLC.
10.3	Continuing Guaranty, dated May 1, 2026, by Generation Income Properties, Inc. in favor of Hancock Whitney Bank.
10.4	Continuing Guaranty, dated May 1, 2026, by GIPTN 5780 Waterlevel Highway East, LLC in favor of Hancock Whitney Bank.
10.5	Continuing Guaranty, dated May 1, 2026, by GIPFL 3815 South Orlando Drive, LLC in favor of Hancock Whitney Bank.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


			GENERATION INCOME PROPERTIES, INC.

Date:	May 22, 2026	By:	/s/ David Sobelman
			David Sobelman Chief Executive Officer

Source: View Original Filing on SEC EDGAR

FAQ

What new debt did Generation Income Properties (GIPR) incur in this filing?

Generation Income Properties incurred a new $3,800,000 term loan from Hancock Whitney Bank. The loan is held through two indirect subsidiaries and is structured as a commercial business loan secured by first-priority liens on two properties.

How will Generation Income Properties (GIPR) use the $3,800,000 term loan proceeds?

The $3,800,000 term loan proceeds are used to refinance existing mortgage indebtedness on two properties. Those properties were previously financed by Valley National Bank, so the transaction replaces prior debt rather than funding new acquisitions or developments.

What are the key terms of GIPR’s new term loan with Hancock Whitney Bank?

The term loan bears a fixed 5.70% annual interest rate, requires monthly payments of $23,986.17 starting June 1, 2026, and has a final payment due May 1, 2031. The amortization schedule is based on twenty-five years, and the loan can be prepaid without penalty.

What collateral secures Generation Income Properties’ $3,800,000 loan?

The loan is secured by a first priority mortgage on 3815 South Orlando Drive in Sanford, Florida, and a first priority deed of trust on 5780 East Waterlevel Highway in Cleveland, Tennessee, each with an assignment of all rents and leases related to those properties.

What financial covenants apply to Generation Income Properties under this loan?

The borrowers must maintain a minimum debt service coverage ratio of at least 1.15 to 1.00. This ratio is measured annually at each fiscal year-end based on net operating income generated from the two collateral properties securing the $3,800,000 term loan.

Who guarantees the new $3,800,000 term loan for Generation Income Properties (GIPR)?

The term loan is guaranteed by Generation Income Properties, Inc., GIPFL 3815 South Orlando Drive, LLC, and GIPTN 5780 Waterlevel Highway East, LLC. Each guarantor provides a continuing guaranty that unconditionally covers prompt payment of all borrower obligations under the loan agreement.

Filing Exhibits & Attachments

6 documents